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FX Action: USD-CAD has settled modestly lower.

FX Action: USD-CAD has settled modestly lower after printing a 10-day high at 1.3333 on Friday, which was the culmination of a rebound from the two-week low seen last Tuesday at 1.3225. The pairing has been lacking clear direction over the last three weeks, which follows an ascending phase out of the 10-month low seen in mid July at 1.3109. The evolution of the Trumpian trade warring era and its impact on the global economy will continue to have directional influence on USD-CAD given the Canadian Dollar's standing as a commodity currency. USD-CAD has support at 1.3270-73.

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Publication:The Fly
Date:Sep 2, 2019
Words:101
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